ACCT2522_Week2_tutorial_2010 - ACCT2522 Management...

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1 ACCT2522 Management Accounting 1 Session 1, 2010 Tutorial Week 2 – Understanding Processes and Value Creation TEACHING KIT Overall Theme This topic sets the scene for the course by highlighting the role of contemporary management accounting practices – providing information and tools for managing resources and creating value. Fundamental concepts and ideas of management accounting are also introduced. In addition we introduce and explore two central themes that permeate this course – processes and value. Desired Learning Outcomes and Essential Reading Langfield-Smith, K., H. Thorne and R.W. Hilton (2009). Management Accounting 5e: Information for Managing and Creating Value , 5 th ed, McGraw-Hill Australia Pty Ltd. (Hereafter referred to as LS) Chapter 1 Chapter 16 p. 795-804 Briers, M., J. Macmullen, M. Dyball, & H. Mahama (2004). Management Accounting for Change: Process Improvement and Innovation , 4 th edition. (Hereafter referred to as BDMM) Chapter 2 pp.25-57 - Available on Blackboard TOPIC 1 UNDERSTANDING PROCESSES AND VALUE CREATION After completing this topic, you should be able to: 1. Understand the role of management accounting practice in sustaining and creating value within organisations 2. Appreciate how new management accounting techniques have been developed to support a firm’s competitive advantage 3. Identify and understand value and its various elements. 4. Understand the objectives and progression of process analysis 5. Understand the purpose of Activity-Based Management and what it involves
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2 Tutorial Questions Beth and Jessie’s Ice Cream Factory Beth and Jessie operate a medium-sized ice cream factory in rural NSW, specialising in the production of extra creamy chocolate chip ice cream. This ice cream has been extremely well received since the time it was first produced. However Beth and Jessie have become very concerned about recent customer complaints about their product being of variable quality (e.g., different volume of ice cream in ice cream cartons; ice cream with too few chocolate chips; ice cream with different levels of sweetness; soggy/damaged cartons etc). Beth and Jessie have
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ACCT2522_Week2_tutorial_2010 - ACCT2522 Management...

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